Three cities in New York will be hit hardest by the 25 percent surcharge Ontario, Canada, implemented on electricity on Monday in response to President Donald Trump‘s trade war.
Why It Matters
On Monday, the Ontario government enacted a 25 percent tariff on electricity flowing into parts of the U.S. The tariff comes after Trump announced last Thursday that he would allow Canada and Mexico a one-month reprieve from tariffs that went into effect earlier in the week.
Among Trump’s proposed tariffs include a 10 percent tariff on Canadian energy, the major supplier to U.S. states hugging the northern border. Ontario Premier Doug Ford has also threatened to block energy exports to some U.S. states.
What to Know
The fourth-largest energy commodity traded between Canada and the U.S. is electricity, preceded by crude oil, natural gas and petroleum, respectively. Energy products from Canada now face a …